Temasek Holdings will work more closely with its portfolio companies after changing its charter for the first time in seven years.
The Singaporean sovereign wealth fund said it wanted to “engage” more with the boards of companies it had investments in becoming an “active investor and value-adding shareholder”.
Temasek owns a 40 percent stake in the Singapore-based development and real estate investment firm CapitaLand and wholly-owns Singapore property investor Mapletree Investments. It also has stakes in China Construction Bank, Merrill Lynch and the infrastructure and property firm Keppel Corporation.
Chairman Dr S Dhanabalan said in a statement the revised charter reflected Temasek’s transformation from a passive investor predominantly focused on Singapore to one with more than two-thirds of ithe assets in its portfolio companies now located outside the country.